Dark Weeble

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Why use Monero on the darknet?

Monero, the leading privacy-focused cryptocurrency, has gained significant attention in recent years due to its superior security features compared to Bitcoin. While Bitcoin remains the most popular cryptocurrency, Monero has emerged as a more secure option for those who prioritize privacy and security. In this article, we will explore why Monero is considered a more secure cryptocurrency and the benefits it offers to users, particularly those engaged in darknet activities such as accessing darknet markets via Tor.

The 5 main benefits of Monero

1. Privacy and Anonymity: Monero is designed to prioritize privacy by default. Unlike Bitcoin, which utilizes a public ledger that can be easily traced, Monero shields transaction details like the sender, receiver, and transaction amount using advanced cryptographic techniques like ring signatures, RingCT, and stealth addresses. This ensures that Monero transactions are virtually untraceable, providing users with complete anonymity.

2. Unlinkability: Monero uses ring signatures to make it nearly impossible to link the actual sender with their transaction. Ring signatures combine the spender’s transaction with others, making it difficult for anyone to distinguish which address was the actual sender. As a result, Monero transactions provide an extra layer of obfuscation, making it highly secure and protecting the identity of its users.

3. Fungibility: Monero ensures the fungibility of its cryptocurrency, which means that each unit of Monero is indistinguishable from another. In contrast, Bitcoin transactions are publicly visible, allowing tainted coins to be traced and potentially rejected by merchants or exchanges. Monero's privacy features make it impossible to track the history of a coin, ensuring that all Monero coins hold equal value.

4. Decentralization and Resistance to Mining Centralization: Monero takes pride in its decentralized nature and resistance to mining centralization. Unlike Bitcoin, which is mostly mined using specialized ASIC hardware, Monero's RandomX algorithm is designed to be highly resistant to ASIC mining. This ensures a more even distribution of mining power among individuals, preventing a single entity from gaining undue control over the network.

5. Community-Driven Development: Monero boasts a passionate and dedicated community that actively contributes to the development and improvement of the cryptocurrency. The community supports Monero's commitment to privacy and security, constantly striving to enhance the protocol and address any potential vulnerabilities. This strong community involvement adds an extra layer of security and trust to the Monero network.

Monero Cryptocurrency

The benefits offered by Monero's advanced security features are numerous and increasingly sought after in today's digital economy. Its emphasis on privacy ensures that individuals can conduct transactions without fear of their financial activities being monitored or traced. Monero's commitment to fungibility ensures that all coins carry equal value, encouraging its widespread adoption as a reliable medium of exchange.

Getting a Monero Wallet

So you want to start transacting with Monero? Well, some multicurrency wallets support Monero alongside Bitcoin, but if you're using a wallet such as Electrum which doesn't support it, then check out our Cryptocurrency Wallets Guide for details about the Monero GUI Wallet and Exodus Wallet which are our top picks for Monero users. Exodus even offers the benefits of an in-app swapping service, perfect if you want to swap your Bitcoin to Monero quickly and easily. You can also do this via exchange services such as eXch, which we have previously reviewed in detail.

Jesse Todd
Jesse Todd
Cyber Security Expert

Final thoughts

While Bitcoin continues to dominate the cryptocurrency space, Monero's focus on privacy, unlinkability, fungibility, decentralization, and community-driven development makes it a more secure alternative. It is likely that Monero will continue to gain recognition as the go-to cryptocurrency for those seeking a higher level of anonymity and transaction security when accessing services on the darknet, and I would strongly recommend it to anyone as a superior alternative to Bitcoin or Litecoin.

Updated January 2024